If money were not used as a medium of exchange,
a. the gains from trade would be severely limited.
b. our standard of living would probably improve.
c. the transaction costs of exchange would be lower.
d. economic efficiency would increase.
A
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Refer to the figure below. Suppose the solid line shows the current demand curve for coffee. In response to an announcement that much of next year's coffee crop has been destroyed by a storm in Brazil, you should expect: 
A. the demand curve to shift to D(A) in anticipation of higher future prices. B. the demand curve to shift to D(B) in anticipation of higher future prices. C. an increase in the quantity of coffee demanded, but no shift in the demand curve. D. neither a change in quantity demanded nor a shift in demand because next year's coffee crop will not affect the current demand for coffee.
When the U.S. dollar rises in value relative to the Mexican peso, the dollar has ________, and when the dollar falls in value, it has ________
A) grown; shrunk B) grown; shrunken C) been bullish; been bearish D) depreciated; appreciated E) appreciated; depreciated
Refer to Scenario 18.1. Which of the following is TRUE?
A) The factory will never agree to B, because that would leave them with much less profit than the fishermen. B) C will never occur because that would leave the fishermen with much less profit than the factory. C) If the factory refused to install a filter, the fishermen would refuse to install a treatment plant. D) The factory must install a filter, because they contaminate the water. E) The profits above indicate profit before any agreement is made, and profit varies enough to make a mutually acceptable agreement possible.
Software companies continually work to develop new features of their products that make it easier for users to interact and share their work
As more of these features are embedded in the software, what happens to the individual demand curve for the software products? A) Demand curve becomes more elastic due to the bandwagon effect B) Demand curve becomes less elastic due to the snob effect C) Demand curve shifts, but its degree of elasticity does not change D) There is no change in the individual demand curve